"Selling assets to stave off someone buying the company is not a good enough reason to sell them."
Maybe we should sell the lot and wind up the company.
T Boone Pickens thinks the oil price will return to 100 USD/ barrel, but here I go arguing against a self-made multi billionaire! I can't see oil getting back much over 60 USD/barrel for two reasons
ONE. Because of US Shale drillers will start drilling again when oil gets back in the seventies (that is the opinion of experts)
TWO Demand for oil will start falling as Governments around the world begin legislating to ban the use of oil in vehicles (to cut greenhouse gas emissions). There is a global glut of oil now but what will it be like in 2025 as US manufactured motor vehicles must be 50% more fuel efficient?
I don't think the oil industry has a bright future. I' ve had enough: I just want my money.
TAP Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held